“This is the single greatest recognition of property rights in history,” said Eric Anderson, Co-Founder and Co-Chairman, Planetary Resources, Inc. “This legislation establishes the same supportive framework that created the great economies of history, and will encourage the sustained development of space.”

As the Earth’s mineral resources are rapidly diminishing, some scientists are considering an intriguing solution—mining asteroids, which are thought to contain huge supplies of gold, platinum, iron ore, and other minerals. A team of NASA researchers are already working on it, as we reported in Space, the Final Frontier…for Mining?

Attempts to ban private property throughout the solar system for mankind and descendants

In 1979, the United Nations attempted to forever forbid mankind from the right to private property in Outer Space, through The U.N. Agreement Governing the Activities of States on the Moon and Other Celestial Bodies, henceforth referred to as the "Moon Treaty",.which covers the entire solar system outside of Earth

It’s true that in space nobody can hear you scream, but it's also assured that the voices from legal eagles will be soundly heard.

A Space Resources Roundtable that convened here in June brought together experts to address off-Earth resources, private development and the legal issues ahead. The conference was convened by the Planetary and Terrestrial Mining Sciences Symposium, in collaboration with Colorado School of Mines and the Lunar and Planetary Institute.

But to whom do those trillions belong — the company, or everyone? Does a private company have a right to stake claim to an asteroid, or are celestial bodies such as the moon, planets and asteroids the communal property of all Earthlings?

U.S. military control of space is one of the key missions spelled out under a National Space Policy adopted by former president Clinton in 1996. The goal is to make sure U.S. forces have unhindered access to space.

A new Air Force doctrine, called Counterspace Operations, recently made public, further implements the Clinton-era policy. The document declares that the military is duty-bound to knock down other countries' space efforts.

Military doctrine is important to understand because it is an official statement of what the Pentagon actually intends to do.